Uniform Commercial Code
Uniform Commercial Code : The Uniform Commercial Code, or Uniform Customs and Practice for Documentary Credits ICC Publication No. 500, was first established and published in 1933 by the International Chamber of Commerce. Revisions were made in 1951, 1962, 1974, 1983, and 1993. The code defines documentation standards to be followed by international banks when negotiating letters of credit. The code is binding, and seeks to define a worldwide standard applicable to all involved in international trade, exchanging goods and money using the international letter of credit
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